From 1 January 2021, there are new requirements for moving live animals, products of animal origin, plants and plant products (agrifood goods) from Great Britain to Northern Ireland.
News story
GAD has been announced as a key partner to help establish the new Contingent Liability Central Capability function for government.
The Government Actuary’s Department (GAD) has been selected as a key partner to establish a function to monitor and understand the evolving nature of the risks which can affect government.
In March 2020 HM Treasury published proposals to improve the management of guarantees and insurance provided by government. GAD played a key role in developing the proposals, the objectives of which are to:
Central to these proposals is the establishment of the new Contingent Liability Central Capability (CLCC), which gained approval and funding in the Spending Review 2020.
The CLCC will support government departments in the evaluation, pricing, and management of guarantees and insurance. It will monitor and report on the government’s overall portfolio of risk from contingent liabilities.
Due to its risk management expertise, GAD was selected by HM Treasury to work with UK Government Investments to establish the CLCC in 2021.
GAD Actuarial Director Matt Gurden sits on the steering board guiding implementation of the CLCC. He said: “This is an important development, as this new function is designed to help government improve its understanding and management of risks. Our risk management experts will play a central part in the formation and ongoing capability of the CLCC.”
Published 16 December 2020
Support includes a dedicated helpline and means traders will not need to pay certification costs
New support for traders and businesses goes live today with the launch of the Movement Assistance Scheme (MAS), to help them meet new requirements for moving animals, plants and associated products from Great Britain to Northern Ireland after the transition period ends.
This includes advice to businesses through a dedicated helpline and means traders will not need to pay certification costs, which will be reimbursed by government to those certifying the products. Together, these measures will make it easier for traders to continue to move agri-food goods from Great Britain to Northern Ireland.
Farming, Fisheries and Food Minister Victoria Prentis said:
“As we implement the Northern Ireland Protocol, these arrangements ensure there is unfettered access for traders and minimises the impact of these new requirements.
“The Movement Assistance Scheme will help make it easier to move animals, plants and agri-food goods from Great Britain to Northern Ireland and will give practical help and support to businesses.”
This follows the publication of the Command Paper setting out details of an agreement in principle on the implementation of the Northern Ireland Protocol, including movement of agri-food goods.
From 1 January 2021, traders will need to meet new sanitary and phytosanitary (SPS) requirements following the end of the transition period given that the island of Ireland is treated as a single epidemiological unit. These SPS requirements include Export Health Certificates and Phytosanitary certificates for specific agri-food goods.
The scheme removes the need for traders to pay certification costs and will reimburse the costs incurred by those certifying the products up to a set amount. We will monitor the performance of the scheme, and review it after three months to determine how to best provide ongoing support to traders.
In addition to the scheme launched today, the UK Government has agreed that authorised traders, such as supermarkets and their trusted suppliers, will benefit from a grace period from certification requirements for products of animal origin, composite products, food and feed of non-animal origin and plants and plant products, through to 1 April 2021.
Guidance on the new scheme and moving agri-food goods to and from Northern Ireland is available.
Press release
Government plans to increase funding for pensions industry protection bodies via the General Levy have been announced today.
The Department for Work and Pensions has launched a consultation on proposals to change the structure of the levy – the annual charge paid by pension schemes – and raise rates for the next three years, from April 2021 onwards.
The levy helps fund three arm’s-length bodies sponsored by the DWP: The Pensions Regulator; The Pensions Ombudsman; and The Money and Pensions Service. It also funds part of the development costs for the pensions dashboard.
The levy rates were last increased in 2008/09, and were reduced by 13% in 2012/13. However, the levy deficit is expected to reach approximately £80 million by March 2021.
In considering its options, the government has sought to balance the need to adequately fund the pensions bodies, while also limiting its impact on the pensions schemes that fund it.
Minister for Pensions Guy Opperman said:
Changes within the pensions industry and regulatory landscape have resulted in growing responsibilities for the DWP’s pensions bodies, putting additional pressure on their expenditure.
Whilst the government has protected the industry from increases in the levy over a number of years, we can no longer avoid the fact that action is needed to bring levy rates back into balance with expenditure.
The levy is payable by the trustees of registrable occupational and personal pension schemes. The amount levied on individual schemes is calculated based on the number of scheme members.
Read the full consultation on GOV.UK.
The consultation period begins on 16 December 2020 and runs until 27 January 2021.
Published 16 December 2020